New capital to strengthen its position as competition heats up
Berlin, Germany, 13.01.2014: Delivery Hero, the largest global provider of online and mobile food ordering technology for restaurants and consumers, today announced a Series E financing of $88 million led by Insight Venture Partners. The company will primarily use the funds to fuel growth in its existing markets and expanding its position as an innovation leader.
The new round of capital represents the largest investment seen by the sector to-date and brings the overall investment in Delivery Hero close to $200 million. Using prior investment, Delivery Hero has grown to provide online and mobile ordering capability for more than 55,000 restaurants in 14 countries including Germany, Sweden, UK, Korea, China and India. Delivery Hero`s restaurant partners generate more than half a billion in annual sales via orders from more than 6 million happy consumers who use the company`s online service or mobile applications. The company grew revenue with more than 100% in 2013 and became profitable by the end of the year.
Niklas Östberg, CEO of Delivery Hero, commented: "Delivery Hero has a strong market position globally and we looked for an investor that could add to our ambitious vision. Insight Venture Partners has experience with marketplace businesses that are expanding internationally, and we believe their capabilities marry well with our long term vision."
Jeff Lieberman, Managing Director at Insight Venture Partners, added: "We have been impressed by the drive, passion and dedication of the Delivery Hero team and what they`ve been able to accomplish. Under Niklas` leadership we believe the company has the capability to win globally, providing online and mobile food ordering in all major markets worldwide."
About Delivery Hero
Delivery Hero is a worldwide network of online food ordering sites with over 55,000 restaurants connected to its service. The company operates in Germany, UK, Sweden, Finland, Poland, Austria, Denmark, Russia, Australia, Switzerland, South Korea, China, Mexico and India. The company has more than 700 employees around the world with 300 staff working from its Berlin headquarters. Delivery Hero investors include Insight Venture Partners, Kite Ventures, Team Europe, ru-Net, Tengelmann Ventures, Holtzbrinck Ventures, Point Nine Capital and Phenomen Ventures.
About Insight Venture Partners
Insight Venture Partners is a leading global private equity and venture capital firm investing in software, eCommerce, Internet, and data-services companies. Founded in 1995, Insight has raised more than $7.6 billion and made more than 190 investments worldwide. Insight`s mission is to find, fund, and work successfully with visionary executives who are driving change in their industries. Insight provides them with practical, hands-on growth expertise to foster long-term success. For more information on Insight and all of its investments, visit www.insightpartners.com
Bodo v. Braunmühl
Delivery Hero Holding GmbH
Mohrenstraße 60, 10117 Berlin
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Source: Lieferheld GmbH via GlobeNewswire